Global Economic Organization
The Federation of Korean Industries (FKI) has selected Ryu Jin (65), the Chairman of the Poongsan Group, as its next chairman.
According to a press release issued on Aug. 6, the FKI stated, “At the upcoming extraordinary general meeting on Aug. 22, the FKI is planning to change the organization’s name back to its original name when it was founded in 1961, but its English name will remain the same. It will also appoint Poongsan Group Chairman Ryu Jin as the new head.” The term of the FKI chairman is two years.
The FKI explained the background of selecting Ryu Jin as the next chairman, stating, “Chairman Ryu Jin possesses exceptional experience, knowledge, and a network on the global stage. As the new FKI takes shape, he is the suitable candidate to demonstrate leadership in transforming it into a global think tank and a truly influential global economic organization.”
Graduating from Seoul National University with a degree in English Literature, Chairman Ryu went on to complete his Master’s program in Business Administration at Dartmouth College in the United States. He has been active in the FKI since 2001, serving as its vice chairman. Presently, he holds positions such as chairman of the FKI’s Korea-US Business Council, vice chairman of the Korea-Japan Economic Association, and a board member of the Center for Strategic and International Studies (CSIS) in the United States. Under Chairman Ryu’s leadership, Poongsan is a defense industry enterprise, and it ranks within the top 70 in the corporate sector.
Chairman Ryu is known for his extensive connections in both the political and corporate circles of the United States. A representative from an economic organization said, “The selection of Chairman Ryu Jin, often referred to someone who has a strong network or understanding of American affairs, politics, or business, aligns well with the innovative concept of a global think tank. Over the past two decades, he has been actively engaged in the FKI’s executive team, assuming key roles, which has solidified his internal credibility.”
Previously, the FKI announced a renewal plan in May that included absorbing and integrating its subsidiary, the Korea Economic Research Institute, and changing its name. Following this, the FKI sent formal letters last month to the four major business groups that had withdrawn from the FKI, requesting their participation and officially inviting them to rejoin.